Upcoming IPO - Jyoti Life Insurance

Tutor Chetan Upcoming IPO News Jyoti Life Insurance

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Upcoming IPO News

Jyoti Life Insurance

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Jyoti Life Insurance Company Limited is planning to sell 66 Lakh Unit Shares to the general public. (SEBON) Securities Board of Nepal  has provided the approval for the issuance of shares on Falgun 7, 2077 BS. The company had submitted the application to SEBON on Mangsir 19, 2077 BS for public offering. In order to issue shares to the public, the company needs permission from Sebon.

After the Sebon approval, the company will now issue 66 Lakh unit Shares in the Initial Public Offering (IPO). At a face value of Rs 100, the public issue size amounts to Rs 66 crores.

After the IPO, the general public will posses 30 percent shares in the companies. Likewise, the promoters will hold the remaining 70 percent ownership.

Issue Manager: NMB Capital Limited

Jyoti Life Insurance Company Limited (JLIC) is a life insurance company registered at the Office of Company Registrar under the Company Act 2006 on May 17, 2017, and has obtained a license from Insurance Board on September 4, 2017. JLIC has been offering an extensive range of products as Money Back, Endowment, Whole Life, Term Assurance products, etc. through its diversified sales network. Currently, all the shares of the company are held by promoter shareholders. Major shareholders of the company are Mr. Nitesh Agrawal (18.18%), Ms. Usha Agrawal (18.18%), and NIC Asia Bank Limited (9.74%).